dwallacefx
Long

crude oil - long

TVC:USOIL   CFDs on WTI Crude Oil
44 0 1
Here we can see price how the candlesticks are changing as price approaches the bullish trendline . These spinning top formations indicate buyers are moving into the market. Some traders may wait until price fully touches the trendline or the 71% retracement in order to take the trade but we can see that this area is also acting as a resistance (even though it has been depleted) for A. This coupled with price approaching the medium level demand zone (green box) could bring about the confidence for a trader to make the trade early.
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